Airbus 2015 Annual Report Download - page 225

AIRBUS GROUP FINANCIAL STATEMENTS 2015 l 43 l
Notes to the IFRSConsolidatedFinancialStatements
2.
2.5 Operational Assets andLiabilities
24. Other Assets and Other Liabilities
25. Sales Financing Transactions
Sales financing — With a view to facilitating aircraft sales
for Airbus and Airbus Helicopters, the Group may enter into
either on-balance sheet or off-balance sheet sales financing
transactions.
On-balance sheet transactions where Airbus is lessor
are classified as operating leases, finance leases and loans,
inventory and to a minor extent, equity investments:
(i) Operating leases – Aircraft leased out under operating
leases are included in property, plant and equipment at
cost less accumulated depreciation (see Note18 “Property,
plant and equipment”). Rental income from operating leases
is recorded as revenues on a straight-line basis over the
term of the lease.
(ii) Finance leases and loans – When, pursuant to a financing
transaction, substantially all the risks and rewards of
ownership of the financed aircraft reside with a third party,
the transaction is characterised as either a finance lease
or a loan. In such instances, revenues from the sale of the
aircraft are recorded upon delivery, while financial interest
is recorded over time as financial income. Theoutstanding
balance of principal is recorded on the statement of financial
position (on balance sheet) in long-term financial assets, net
of any accumulated impairments.
(iii) Inventory – Second hand aircraft acquired as part of a
commercial buyback transaction, returned to the Group
after a payment default or at the end of a lease agreement
are classified as inventory held for resale if there is no
subsequent lease agreement in force (see Note 20
“Inventories”).
Other Assets
(In € million) 2015 2014
Prepaid expenses 2,051 1,603
Others 115 219
Total non-current other assets 2,16 6 1,822
Value added tax claims 1,450 1,371
Prepaid expenses 663 487
Others 706 531
Total current other assets 2,819 2,389
31December
Total 4,985 4,211
Other Liabilities
(In € million) 2015 2014
Customer advance payments 14,472 12,231
Others 521 618
Total non-current other liabilities 14,993 12,849
Customer advance payments(1) 23,612 22,174
Tax liabilities (excluding income tax) 885 675
Others 2,540 2,373
Total current other liabilities 27,037 25,222
31December
Total 42,030 38,071
Thereof other liabilities due within 1 year 26,313 24,291
(1) Of which € 8,252million (2014: € 7,840million) relate to construction contracts mainly in Airbus Defence and Space (2015: € 7,007million and 2014:€ 6,499million) and Airbus
Helicopters (2015: € 1,246million and 2014: € 1,273million).
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015
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